BitBoy has been dismissed from a case relating to litigation surrounding the collapse of crypto exchange FTX as three celebrities settle.
— meaning he had not responded to the lawsuit's allegations or requested the court to decide the case based on presented evidence without a trial.Meanwhile, Jacksonville Jaguars quarterback Trevor Lawrence and YouTube influencers Kevin Paffrath and Tom Nash have decided to settle the case, according to the filing. The terms of the settlements remain undisclosed.
The Co-Lead Counsel is also engaged in ongoing confidential settlement discussions with additional FTX Defendants, and other settlements will likely be reached, the filing noted. Lawrence and Nash were also listed in a filing last week relating to the names and numbers behind some oflisted millions of dollars in payments to celebrity athletes including Shaquille O'Neal, Naomi Osaka and David Ortiz, alongside organizations such as the MLB and the NBA’s Miami Heat and Golden State Warriors franchises. Coachella, Gamestop and Kevin O'Leary were also listed. Other celebrities sued for promoting FTX include Tom Brady, Gisele Bundchen and Steph Curry.
The FTX estate is attempting to recover funds from various sources, but the earlier filing acknowledged that it’s uncertain how much the FTX estate will be able to claw back from the payments, noting the recovered amount"...may vary materially from the amounts reported herein." The three celebrities' decision to settle comes as the FTX case continues to unfold, with Bankman-Fried set to be tried in court on Oct. 3 for charges of fraud he allegedly perpetrated while running the exchange.
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